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October was China’s second highest month for gold imports, according to Hong Kong customs data.
With the price of gold cratering this fall, China imported 148 tons in October, the second highest recorded level. In March 2013 China imported 224 tons.
The numbers are not the full window into Chinese demand. Gold may be imported from other countries, and China is the world’s largest gold producer.
October marked China’s 26-consecutive month of being a net gold importer.
“At least someone is grateful for plunging gold prices,” writes Zero Hedge.
Table from Zero Hedge. Click to enlarge.
Image of $10 Macro Taiwanese coin by Eli Christman
2 Comments
tonyideal
I can’t believe that after seeing the financial where with all of the Chinese, the balance of the world doesn’t see what’s going on. I’m in accumulate mode for sure.
BTW, I’m teaching my kids Chinese !
Anthony Maw
At this rate China will hold all the gold and the fool western capitalists will be clutching their fiat paper money and the similarly denominated equities. Cue Mr. T quote: “I pity the fool……”